News & Analysis as of May 10, 2025

Economic Sanctions

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The National Defense Authorization Act is a United States federal statute enacted each year to specify the budget and expenditures of the Department of Defense. The NDAA identifies which agencies are responsible for national defense, provides funding for those agencies and includes instructions on proper use of the funds. less -

DOD’s Expanding List of Chinese Military Companies

Morgan Lewis on 1/23/2025

On January 2, 2025, the US Department of Defense added a number of entities to its list of “Chinese military companies" (CMC List). While being named to this list, by itself, does not prohibit US businesses from continuing to...more

War Aid and Sanctions: National Security Act Includes Significant New Sanctions Authorities

Morrison & Foerster LLP on 4/30/2024

On April 24, 2024, President Biden signed into law a long-debated $98 billion foreign aid and national security legislative package (the “Act”) providing funds for Israel, Taiwan, and Ukraine, and authorizing new sanctions...more

OFAC Year in Review 2023 – Part 1

Morrison & Foerster LLP on 3/4/2024

2023 was another record year for U.S. sanctions and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Most prominently, OFAC continued to impose significant additional sanctions on Russia in...more

OFAC Year in Review 2021 – Part 1

Morrison & Foerster LLP on 2/8/2022

2021 was a year of transition in the United States and for the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). OFAC’s year, while busy, was far different from 2020, as the Biden Administration’s...more

United States Adopts Wide-Ranging China Restrictions

WilmerHale on 12/29/2021

End-of-Year Sanctions Target Chinese Supply Chains and AI, Quantum Computing, and Biotechnology - Several US executive branch agencies and the US Congress have adopted wide-ranging end-of-year sanctions, export control and...more

OFAC 2020 Year In Review

Morrison & Foerster LLP on 2/16/2021

In too many ways to count, 2020 was an extraordinary year. As we move into 2021 with optimism for an end to the pandemic and better days ahead, we understand that the activity last year of the U.S. Department of the...more

Turkey: U.S. and EU Sanctions Developments

Akin Gump Strauss Hauer & Feld LLP on 12/23/2020

Key Points - On December 14, 2020, in response to Turkey’s procurement of the S-400 surface-to-air missile system from Russia in 2019, the Trump administration imposed new sanctions on the Turkish Presidency of Defense...more

Congress Imposes Sanctions as Part of 2020 NDAA (IRB No. 582)

BCLP on 1/23/2020

The new Iran sanctions imposed by the Trump Administration are not the only recent sanctions actions of note. Congress has also shown its willingness to use sanctions as a foreign policy tool, with certain sanctions...more

Second Round of U.S. Sanctions on Russia Pursuant to the Chemical and Biological Weapons Control Act

Akin Gump Strauss Hauer & Feld LLP on 8/14/2019

• The U.S. Department of State and the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) have imposed three new sanctions on Russia: o Effective August 26, 2019, U.S. banks (as defined below) are...more

International Law Bulletin - Vol. 22, No. 9

Nelson Mullins Riley & Scarborough LLP on 11/20/2018

INTERNATIONAL BUSINESS AND TRADE - Dispute Resolution - WTO: The U.S. filed an objection against China at the World Trade Organization (WTO) for the $7 billion worth of retaliatory levies against U.S. exports to China (34 ITR...more

Reinstatement of Iran Sanctions

Pillsbury - Global Trade & Sanctions Law on 11/6/2018

On November 5, 2018, OFAC announced a large number of Iran-related sanctions designations and issued guidance on the end of the 180-day wind down period. ...more

Red Notice Newsletter - September 2018

Akin Gump Strauss Hauer & Feld LLP on 10/2/2018

ANTICORRUPTION DEVELOPMENTS - Petrobras Settles with U.S. Authorities Over Alleged FCPA Violations - On September 27, 2018, the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC)...more

The Export Control Reform Act and Possible New Controls on Emerging and Foundational Technologies

Akin Gump Strauss Hauer & Feld LLP on 9/12/2018

• ECRA became law on August 13, 2018. It is the permanent statutory authority for the EAR, which is administered by the U.S. Department of Commerce’s BIS. The new law codifies long-standing BIS policies and does not require...more

Red Notice Newsletter - August 2018

Akin Gump Strauss Hauer & Feld LLP on 9/6/2018

ANTICORRUPTION DEVELOPMENTS - $34 Million SEC Settlement for Legg Mason - On August 27, 2018, the Securities and Exchange Commission (SEC) announced that Legg Mason Inc. will pay more than $34 million to settle an...more

Client Alert: Iran Sanctions Return

Sheppard Mullin Richter & Hampton LLP on 5/14/2018

1. All sanctions on Iran that were in place before January 2016 will be re-imposed no later than November, 4 2018. 2. Secondary sanctions that penalize non-U.S. persons doing business with Iran will be reinstated. 3....more

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National Defense Authorization Act › Office of Foreign Assets Control (OFAC) › Economic Sanctions

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